DGAP-Adhoc: mybet Holding SE: Greek supervisory authority approves restart of mybet's online casino in Greece. Nevertheless, full year forecast 2017 will not be met. Short-term loan will be taken out.

Nachricht vom 10.11.2017 (www.4investors.de) -


DGAP-Ad-hoc: mybet Holding SE / Key word(s): Change in Forecast/Financing

mybet Holding SE: Greek supervisory authority approves restart of mybet's online casino in Greece. Nevertheless, full year forecast 2017 will not be met. Short-term loan will be taken out.
10-Nov-2017 / 14:49 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

mybet Holding SE: Greek supervisory authority approves restart of mybet's online casino in Greece. Nevertheless, full year forecast 2017 will not be met. Short-term loan will be taken out.

Berlin, 10 November 2017. Today, the responsible Greek supervisory authority has allowed mybet Group to restart its online casino offering in Greece. Thus, the online offering will be put back into operation by mybet as soon as possible during the next few days. The restart of the Greek online casino was a prerequisite to meeting the full year forecast for the financial goals of mybet Group in the year 2017.

But, based on the development of revenues and earnings of mybet Group in the current financial year 2017, the full year forecast for the financial results of mybet Group published on 24 May 2017 will nevertheless not be met. This forecast had projected group revenues of EUR 44.5 to 47 million, an EBIT between EUR 4.5 and 5.5 million and a group liquidity by the end of the year of EUR 1.0 to 2.0 million.

The management board now is expecting mybet Group to generate in the financial year 2017 group revenues of between EUR 35.5 and 37.5 million and an EBIT between EUR 2.5 and 3.0 million.

To cover the additional funding requirements in the current year which arose from the economic development, the company is preparing financing measures. In a first step, today, a short-term bridge loan has been taken out with a volume of EUR 500,000. The loan will be paid out to mybet Group shortly and it corresponds to usual market terms. The loan is collateralised and a share of the Personal Exchange International Ltd., the maltese group company of mybet Group that stands in the centre of the operating business, is the collateral.

The final decision by the Management Board and the Supervisory Board of mybet Holding SE on conducting these financing measures as well as their terms has not been taken yet. This decision depends on the outcome of the financing negotiations with investors, which are currently ongoing. The outcome of these negotiations can not be assessed reliably by the Management Board at the current point in time.

As the expected level of the group's liquidity by the end of the year depends directly on the implementation and the scope of the additional financing measures, the Management Board will only be able to publish a new forecast for the group's liquidity by the end of the year when announcing the final decision on the financing measures.

Notifying company:
mybet Holding SE, ISIN DE000A0JRU67, Frankfurt Stock Exchange Prime Standard

Notifying person:
Sebastian Bucher, Manager Investor & Public Relations



Information and Explanation of the Issuer to this News:Explanations to the revenue development
The customer data for the usage of mybet's online paltform in the field of sports betting as well as in the field of casino show a clear positive trend in September and October. In addition, the online casino of mybet in Greece can now be put into operation again with the effect, that additional revenues are expected to be generated during this year. But the positive trend in customer behaviour on the platform is from the current perspective not yet strong enough, to meet the full year forecast even if the positive trend will continue in November and December.

The full interim statement on the results as of the end of the third quarter 2017 of mybet Group will be published on 23 November 2017.mybet Holding SE
The mybet Group, licensed in several European countries to offer sports betting and online casino games, has its registered office in Berlin and locations in Cologne and Malta. mybet offers its betting and gaming products over the internet platform mybet.com as well as at land-based betting shops operating under a franchise system. In addition, the group supplies regional betting providers in Europe and Africa as a B2B service provider.
mybet Holding SE is the parent company of the mybet Group. The shares of mybet Holding SE (ISIN DE000A0JRU67) are listed on the Frankfurt Stock Exchange in the Prime Standard.
For further information, visit www.mybet-se.com | www.mybet.com | www.mybet-shop.com

Contact
mybet Holding SE
Sebastian Bucher
Investor & Public Relations

tel +49 30 22 90 83 161
fax +49 30 22 90 83 150
e-mail sebastian.bucher@mybet.com





10-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
mybet Holding SE

Karl-Liebknecht-Straße 32

10178 Berlin


Germany
Phone:
+49 30 22 90 83 0
Fax:
+49 30 22 90 83 150
E-mail:
ir@mybet.com
Internet:
www.mybet-se.com
ISIN:
DE000A0JRU67
WKN:
A0JRU6
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of Announcement
DGAP News Service



627953  10-Nov-2017 CET/CEST








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